Mobileye, Intel’s Automation The driving division filed on Friday for what is expected to be the largest initial public offering of the year, but its success is far from guaranteed.
israeli company, Acquired by Intel Five years ago, at $15.3 billion, it touted an expansive vision: an autonomous future “where congestion can only be seen in the history books.”but its S-1 petition The SEC partnership underscores its precarious position in the growing self-driving car industry.
Mobileye was founded in 1999 thanks to its First mover advantage, Provides computer vision technology to automakers to power their advanced driver assistance systems (ADAS). Now, as Mobileye expands its business model, it faces a growing number of competitors — from all quarters — in the wild and furry world of self-driving car technology.
The company’s list of competitors in its S-1 extends beyond its core “Tier 1” suppliers The business now includes robo-taxi developers such as Argo AI, Aurora, Auto X, Baidu, Cruise, Momenta, Motional, Waymo and Zoox, as well as what it describes as “consumer AV” rivals Apple, Sony and former customer Tesla pull.
TechCrunch took a deep dive into the S-1 to identify speed bumps and highlights in its quest to dominate autonomous driving.
In the filing, Mobileye warned that its historical reliance on a handful of automaker partners could jeopardize future revenue. In the first six months of this year, Mobileye reported that 76% of its revenue came from eight automakers. But now bigwigs like General Motors and Mercedes-Benz are starting to develop their own self-driving systems in-house.